Teras Resources Inc.
TSX VENTURE : TRA

Teras Resources Inc.

July 15, 2011 13:30 ET

Teras Provides Its Shareholders With Corporate Update

CALGARY, ALBERTA--(Marketwire - July 15, 2011) - Teras Resources Inc. ("Teras" or the "Company") (TSX VENTURE:TRA): Peter Leger, President and Chief Executive Officer of Teras is pleased to announce that Teras has completed 12 additional core drill holes on its Cahuilla project and has entered into negotiations with Consolidated Goldfields Corporation to take the next steps in advancing the Cahuilla project. The Cahuilla Project is a large epithermal, paleo-hot springs system hosting multiple bonanza-grade veins that occur within an extensive body of disseminated gold-silver mineralization. For further information on the Cahuilla project refer to the NI 43-101 technical report entitled "Cahuilla Property 43-101 Technical Report," dated October 25, 2007 prepared by Todd Wakefield, MAusIMM of AMEC E&C Services filed on Sedar on November 15, 2007.

The core program consisted of 12 diamond drill holes totalling 333 meters. The purpose of the drill program is to test the surface dimensions and down dip extensions of the outcropping sheeted quartz veins on High Grade Hill using a series of shallow fenced holes to develop continuity and expand near surface gold/silver mineralization. Assaying of the core is currently in progress and is being conducted by Inspectorate Laboratory in Reno, Nevada. Results of the core samples will be announced once the analyses are completed.

Results from High Grade Hill will determine where we focus our more extensive reverse circulation drill program, which is anticipated to begin later this year. The principle objectives of the upcoming drill program will be to explore the many high grade veins that have been intersected throughout the project area and focus on the expansion of disseminated mineralization that was defined by historic drilling.

Dale Vitone P. Eng., a Director for the Company is the Company's nominated qualified person responsible for monitoring the supervision and quality control of the programs completed on the Company's properties. Mr. Vitone has reviewed and verified the technical information contained in this news release.

Mr. Thomas Callicrate, Vice president of Exploration for the Company has resigned as an office of the Company to avoid any conflicts while Teras and Consolidated Goldfields Corporation take the next steps in advancing the Cahuilla project. Toby Mancuso, having a long-time relationship with the project from a technical and mineral owner standpoint, will remain an Officer of Teras to guide the advancement of Cahuilla in a timely manner.

About Teras

Teras' vision is to acquire and advance properties with established technical merit. The Company's exploration work will be focused on detailed diamond drilling programs with the goal of proving resources with an NI 43-101 compliant resource report.

This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", " expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports or prior exploration results, and future costs and expenses being based on historical costs and expenses, adjusted for inflation. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the early stage development of the Company and its projects; general business, economic, competitive, political and social uncertainties; commodity prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting the Company; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

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